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Banker to the Poor
273 pages, 2008
The inspirational story of how Nobel Prize winner Muhammad Yunus invented microcredit, founded the Grameen Bank, and transformed the fortunes of millions of poor people worldwide.
Muhammad Yunus was a professor of economics in Bangladesh who realized that the most impoverished members of his community were systematically neglected by the banking system -- no one would loan them any money.
Yunus conceived of a new form of banking -- microcredit -- that would offer small loans to the poorest people without collateral and teach them how to manage and use their loans to create successful small businesses. He founded Grameen Bank because credit is a fundamental human right, not a fortunate few's privileges. It now provides $24 billion in micro-loans to more than nine million families. Ninety-seven percent of its clients are women, and repayment rates are over 90 percent.
Outside of Bangladesh, micro-lending programs inspired by Grameen have blossomed and serve hundreds of millions worldwide.
The definitive history of micro-credit direct from the man that conceived of it, Banker to the Poor, is the moving story of someone who dreamed of changing the world -- and did.
In 'Banker to the Poor', Muhammad Yunus explores the concept of microcredit. He shows how small loans can make a big difference in the lives of the poor, helping them to start businesses and escape poverty. It's a fascinating look into how financial tools can be used for social good.
The book takes you on a journey of how Yunus established the Grameen Bank in Bangladesh. He started with a simple idea - lending small amounts of money to the poor without requiring collateral. This story will inspire you to see how one person can make a significant impact.
Yunus introduces the concept of a social business model, where the main goal is not to generate profit, but to solve a social problem. This is a fresh perspective on how businesses can be structured and it might just spark some ideas for your own ventures.
One of the key themes in 'Banker to the Poor' is the empowerment of women. Yunus believes that giving women access to credit not only helps them but also benefits their families and communities. This book will make you appreciate the importance of gender equality in economic development.
Yunus challenges the traditional banking system, arguing that it often excludes the poor. He suggests that banks should be more inclusive and serve the needs of everyone, not just the wealthy. If you're interested in finance or social justice, you'll want to check out his arguments.
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Banker to the Poor is a compelling and inspiring read. It's a testament to the power of one individual's ability to change the world.
Bill Clinton - 42nd U.S. PresidentMuhammad Yunus's book is a narrative of personal courage and conviction. His vision of a world free of poverty is a call to action that we cannot ignore.
Kofi Annan - 7th UN Secretary-GeneralBanker to the Poor is a beacon of hope for those working to improve the lives of the world's impoverished masses.
Madeleine Albright - 67th U.S. SecretaryYunus's book is a must-read for anyone who cares about a world free from poverty and economic injustice.
Jeffrey Sachs - Economist, UN advisorBanker to the Poor is a powerful testament to the power of a great idea and the will to make it happen.
Amartya Sen - Economist, philosopher
